Twelve-story apartment complex could be coming to downtown Chattanooga

Twelve-story apartment complex could be coming to downtown Chattanooga

January 17th, 2012 by Cliff Hightower in Local - Breaking News

Kim White, CEO of RiverCity Co. in Chattanooga

Kim White, CEO of RiverCity Co. in Chattanooga

Photo by Contributed Photo /Times Free Press.

The City Council is set to vote tonight on whether it will give a 12-year tax abatement to a 74-room, 12-story apartment complex in downtown Chattanooga.

The development would be put in the old Chattanooga Bank Building on 8th and Market streets, said Kim White, CEO of River City Co.

The tax abatement would save the developer - Ray Moss Inc. - about $150,000 a year.

The complex would also have commercial property on the top two floors and retail property on the first floor, White said. Those businesses would still pay taxes.

For more information, read tomorrow's of the Times Free Press.